Income for Life

There are several different types of life income arrangements available for you to support MSPCA-Angell.  Life income gifts, such as charitable gift annuities and charitable remainder trusts, provide you and up to one other beneficiary an income for your lifetimes.  Depending on the gift option you choose, your income can be fixed or variable over your lifetime.  And, if you make your gift with appreciated property, you can reduce or eliminate your capital gains taxes.

In addition, you also receive a charitable income tax deduction that you can use in the year that you make your gift.  And, when the plan ends, the life income gift will benefit the department or program at MSPCA-Angell that you specifically designated.

Summary of benefits:

• Satisfaction in supporting an area of MSPCA-Angell that is important to you.
• Lifetime income payable to you and/or another beneficiary.
• An immediate charitable income tax deduction.
• Elimination or reduction of capital gains taxes on gifts of long-term appreciated property.
• Reduction in federal estate taxes.
• Membership in the Circle of Friends Society, our recognition society for individuals who have made a planned gift.

MSPCA-Angell’s most popular life income gifts are:

Charitable Gift Annuities

Charitable Remainder Trusts

Charitable Gift Annuity

A charitable gift annuity is a contract between you and MSPCA-Angell.  The contract states that in exchange for your gift to MSPCA-Angell, we agree to pay you and/or another beneficiary a fixed dollar amount annually for life.

Part of the income paid to you and your beneficiary(ies) may be tax-free, or taxed at the more favorable capital gains tax rate, depending on the asset you use to fund the annuity.  The income is based on the age of the income beneficiary(ies) at the time of the gift.  At the death of the last income beneficiary, MSPCA-Angell will then use the principal in accordance with the terms of your gift.

Annuities can be established with minimum gifts of $10,000 and can be structured in several ways.

Deferred Gift Annuity

For some people, a gift annuity is a great option; however, they prefer not to receive the income immediately.  For these donors, the deferred gift annuity might be an option.  A deferred gift annuity allows a donor to make their gift now and predetermine a future date at which they will begin to receive the income (e.g. retirement age, significant birthday, etc.).  By deferring your income for a year or more, you will be offered a higher gift annuity rate and a higher tax deduction.

Summary of benefits:
• Fixed lifetime income for up to two beneficiaries.
• An immediate charitable income tax deduction.
• Relief from upfront capital gains taxes on gifts of long-term appreciated property.
• Reduction in federal estate taxes.
• Satisfaction in supporting an area of MSPCA-Angell that is important to you.
• Membership in the Circle of Friends Society, our recognition society for individuals who have made planned gifts.

Charitable Remainder Trusts

Charitable Remainder Trusts are individually managed accounts from which payments are made to the named beneficiary(ies) for his or her lifetime or a term of years.  On the death of the last named beneficiary or end of the trust term, the principal is transferred to MSPCA-Angell to be used in accordance with your wishes.

Charitable Remainder Trusts at MSPCA-Angell can be established with gifts of $100,000 or greater.  You determine the rate of annual payments at the outset, subject to certain guidelines.  The trusts payout to the named beneficiary(ies) for their lifetime(s).

CRTs can be structured in a variety of ways to suit your particular situation.  Please contact our office for further details.

Summary of benefits:
• Lifetime income (variable or fixed) for up to two beneficiaries.
• An immediate charitable income tax deduction.
• Avoidance of capital gains taxes on gifts of long-term appreciated property.
• Reduction in federal estate taxes.
• Satisfaction in supporting an area of MSPCA-Angell that is important to you.
• Membership in the Circle of Friends Society.